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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (94083)	12/10/2001 12:41:24 PM
From: Elwood P. Dowd	Respond to of 97611

RESEARCH ALERT-Salomon ups Hewlett-Packard price target NEW YORK, Dec 10 (Reuters) - Salomon Smith Barney raised its price target on Hewlett-Packard Co. (NYSE:HWP - news) to $28 from $25 on Monday, the first business day after the company's largest single shareholder announced it would oppose HP's acquisition of Compaq Computer Corp. (NYSE:CPQ - news). Analyst John Jones said, ``While a deal remains possible, we believe investors may begin to refocus on Hewlett-Packard's stand-alone investment potential.'' He expects operating margins in HP's business segments to improve over the next few quarters, despite weak corporate spending on technology. The David and Lucile Packard Foundation, which holds 10 percent of HP's stock, said it had made a preliminary decision to vote against the Compaq deal. The decision unites all of the children of HP's founders against the deal. The children account for 18 percent of outstanding HP shares. Jones estimates 67 percent of institutional HP shareholders must vote in favor of the Compaq deal in order for it to be approved, assuming that smaller investors are split on the question.